Bitcoin: Bearish Divergence at 12000USD Resistance
The price diverged with MACD and RSI, and it gives us a trend reversal signal. If buyers can't push the price above 12000USD resistance, we should be ready to see a downward movement toward SMA100, SMA200, and 10000USD support zone. For this, the price will have to break the local uptrend line and moves below SMA50.
If buyers can push the price above 12000USD resistance level, it will confirm their strength. Probably the market will continue the uptrend without deep correction, and a short term consolidation below 12000USD will be enough. The main target for buyers will be 14000USD resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If buyers can push the price above 12000USD resistance level, it will confirm their strength. Probably the market will continue the uptrend without deep correction, and a short term consolidation below 12000USD will be enough. The main target for buyers will be 14000USD resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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